The Financial Minister, Nirmala Sitharaman, and Prime Minister Modi had a long talk about the current financial stability of India. The duo discussed the interventions and changes needed in the financial sector to restart the businesses and services stopped on March 25th. Modi also discussed providing support to the farmers and Micro businesses, which currently paused due to the pandemic.
This will undoubtedly boost the liquidity of cash flow and aids for the betterment of financial stability.
Highlights of the meeting:
Modi pointed out the need to generate job opportunities as this will help the small businesses get back on their feet when the lockdown is lifted. Another reason to create employment opportunities is that many people lost their job during this pandemic, and this will help them by providing employment.
Nirmala Sitharaman also mentioned giving importance to the critical sectors of our country like agriculture, power, and aviation. These three sectors are currently facing difficulties, as the farmers do not see a lot of demand for their products and yields due to the lockdown. The aviation industry is in a bit of a pinch as the aviation industry completely shut down due to the pandemic.
To withstand this, PM Modi is strategizing to provide funds and other methods to help these sectors and industries.